Cryptocurrencies are nowhere near the lure and gains they have had in the past. But that doesn’t take away the fact that many of them have made some investors rich in recent years. While there are some big crypto winners, none of them have been able to deliver the outstanding returns achieved by the Shiba Inu (SHIB). On top of that, it didn’t take long for SHIB to make these huge gains. So how much would you have earned now if you had bought a Shiba Inu in early 2021?
Early SHIB investors may have made millions
The price of the Shiba Inu on January 1, 2021 was a low of $0.00000000000119. This exceptionally low cost stood out as one of the main attractions of the meme coin. For just $1, you could have purchased over 8.4 billion SHIB tokens. Still, let’s say you specifically followed the Shiba Inu back then and saw its potential. Instead of buying $1 worth of cryptocurrencies, you spent $10 to buy over 84 billion coins. Assuming you don’t sell in the ongoing process, your $10 will be more than $742,850 by the end of June 2021. For many investors, this staggering win would have been enough. However, the best was yet to come.
At its highest price of $0.00008845 on October 28, 2021, the Shiba Inu could turn your $10 into more than $7.43 million. Again, it would probably be hard to resist the urge to take the money. But how much would you have made if you hadn’t sold and kept your investment? There is good news and bad news. The bad news is that a $10 initial investment in a Shiba Inu in early 2021 wouldn’t be worth close to $7.43 million today. Besides that, the good news is, your token would still be worth around $889,000. That translates to a return of around 89,000 in just over 18 months.
The future will not be like the past
There is no way to turn back time and buy an early 2021 Shiba Inu. But can you still make a big fortune with meme coin? Do not count on the Shiba Inu to produce astonishing returns going forward as it has in the past. It is no longer possible to earn as much as it did at the beginning of last year. Also, despite the zero in price, the Shiba Inu is not as cheap as it was back then. Alongside this, the dynamics of the overall cryptocurrency market have also changed significantly.
Many investors are not willing to take on the same level of risk as they were last year. Competition between cryptocurrencies for dollar investment has also increased. Some analysts and investors consider the Shiba Inu to be a cryptocurrency to be avoided at all costs. The reason is, it is shown that SHIB does not have a competitive advantage compared to other tokens. However, the future need not reflect the past for the Shiba Inu to make investors richer. There are several factors that could ensure that the meme coin is able to make solid gains in the next year and beyond.
Here are the factors that can enable SHIB to make solid profits
An aggressive burning strategy for the Shiba Inu will remove SHIB tokens from circulation and potentially increase its price. The upcoming launch of the Shibarium layer-2 solution could attract new developers to the Shiba Inu ecosystem. The Shiba Inu meta universe can bring users. The headwinds of the overall cryptocurrency market may also subside and benefit the Shiba Inu.
The odds are that the Shiba Inu won’t be earning as much as their early seasons. There is no guarantee that SHIB will provide positive returns in the long run. However, as we have reported on Kriptokoin.com, some analysts who have expressed their views on the Shiba Inu see it as possible for the meme coin to generate huge gains for investors.
